Lipocine Inc. (NASDAQ:LPCN – Get Free Report) was the target of a significant growth in short interest in October. As of October 15th, there was short interest totaling 351,433 shares, a growth of 259.3% from the September 30th total of 97,816 shares. Based on an average daily trading volume, of 9,616,895 shares, the days-to-cover ratio is currently 0.0 days. Currently, 4.5% of the company’s shares are sold short.
Analyst Upgrades and Downgrades
Several research firms have issued reports on LPCN. HC Wainwright restated a “neutral” rating and issued a $4.00 price objective on shares of Lipocine in a research note on Monday, September 21st. Weiss Ratings raised Lipocine from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday. Wall Street Zen upgraded shares of Lipocine from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Lipocine in a research note on Tuesday, September 22nd. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.00.
Read Our Latest Analysis on Lipocine
Lipocine Trading Down 4.2%
NASDAQ:LPCN traded down $0.06 during trading hours on Friday, hitting $1.46. 29,297 shares of the stock traded hands, compared to its average volume of 711,703. Lipocine has a fifty-two week low of $1.40 and a fifty-two week high of $12.37. The firm has a market cap of $12.00 million, a price-to-earnings ratio of -0.83 and a beta of 0.40. The firm has a 50 day moving average price of $2.00 and a 200 day moving average price of $4.04.
Lipocine (NASDAQ:LPCN – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The specialty pharmaceutical company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.08. Lipocine had a negative return on equity of 64.75% and a negative net margin of 755.39%. The company had revenue of $0.19 million during the quarter, compared to the consensus estimate of $0.21 million. Research analysts predict that Lipocine will post -1.54 EPS for the current year.
Insider Buying and Selling
In other Lipocine news, Director John Higuchi purchased 15,970 shares of Lipocine stock in a transaction dated Wednesday, September 30th. The shares were acquired at an average price of $2.23 per share, with a total value of $35,613.10. Following the completion of the transaction, the director owned 241,365 shares of the company’s stock, valued at $538,243.95. This trade represents a 7.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last three months, insiders bought 37,568 shares of company stock worth $82,174. Company insiders own 4.69% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the company. Seven Fleet Capital Management LP bought a new position in Lipocine in the first quarter valued at approximately $998,000. Stempoint Capital LP acquired a new position in shares of Lipocine in the first quarter valued at $1,282,000. ADAR1 Capital Management LLC bought a new position in Lipocine in the 1st quarter valued at about $185,000. Eversept Partners LP acquired a new stake in Lipocine during the 1st quarter worth approximately $2,357,000. Finally, Exome Asset Management LLC acquired a new position in shares of Lipocine during the 1st quarter worth approximately $486,000. Institutional investors own 9.11% of the company’s stock.
About Lipocine
Lipocine Inc is a biopharmaceutical company focused on developing oral therapies for conditions with significant unmet medical needs. The company uses its proprietary Lip’ral drug-delivery technology to improve the absorption and clinical performance of active pharmaceutical ingredients that may otherwise have limited effectiveness when taken orally.
Lipocine’s lead product is Tlando, an oral testosterone replacement therapy containing testosterone undecanoate. The U.S. Food and Drug Administration approved Tlando in 2022 for testosterone replacement therapy in adult males with hypogonadism associated with an underlying medical condition.
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